Call to OrderChairman James Palmer called the meeting to order at 6:00 p.m. at the MountainView Student Residence and Conference Center due to a power outage on the BSC campus. Approval of Consent AgendaA motion was made (RPerkinson/RTopping) to approve the Consent Agenda. Motion carried. Election of Board OfficersChair – A motion was made (RPerkinson/ALambert) for Mr. James Palmer to continue to serve as Chair of the BSC Board. No other nominations were made. Motion carried.Vice Chair – A motion was made (RTopping/LNeel) for Mr. Larry Ratliff to continue as Vice Chair. No other nominations were made. Motion carried. Proposed 2010-2011 Board of Governor Meeting DatesThe Board members were presented with a proposed schedule of six meetings from July 1, 2010 to June 30, 2011. Discussion followed.A motion was made (LRatliff/ALambert) to accept the following dates:August 19, 2010 October 14, 2010 (second Thursday) December 9, 2010 (second Thursday) February 17, 2011 April 21, 2011 June 16, 2011Motion carried. President’s Report- Dr. Walker called the group’s attention to the invitation to the HEPC Board of Governors Summit in Roanoke, WV on July 23-24, 2010. - President Walker commented on the WV Ethics Act included in the BOG packet and reminded each member to pay close attention to the ethics form when received.- Dr. Walker informed the group that he has been elected for a two year term beginning August 1, 2010 as Chair of the Higher Learning Commission. - Dr. Walker called the group’s attention to the Strategic Plan and commented that during the 2010-2011 year we will not have the stimulus money to backfill the budget. This shortfall in funds may cause some significant changes. - Dr. Walker reported that the Provost search is almost completed. - Currently in the screening stages for the two coaching positions.

Discussion AgendaFinance Committee Report - Mr. Larry Ratliff, Mr. Larry Morhous, and Ms. Anne Taylor- Tuition and fees have been approved by HEPC. Mr. Ratliff indicated that in-state tuition will not increase, but there will be a marginal increase in the metro rate and the out-of-state tuition. - Currently awaiting approval by HEPC for the loan of $750,000 which is an interest free loan approved by the BOG in April for the Basic Science Building for the HVAC system. As soon as the funds are available a contract will be signed with Thompson and Litton as approved in April. - Last week the back-fill stimulus funds for $481,000 for the current fiscal year were received to offset the state appropriation reduction. - Mr. Ratliff reported that at the last meeting there was a question about investment earnings. Ms. Johnson researched this topic and found that there is not much flexibility as to what can be done with the investments. A presentation on investment strategies and structure of the funds may be requested in the future. - Audits – the Financial Audit and the Federal Audit will both be done by Suttle & Stalnaker. Preliminary work is being done now in preparation for the audit in September. The Legislative Audit is almost finished. The exit interview will take place in July. There have been some significant improvements made since the last Legislative Audit. - Facilities – BSC has signed a lease for additional space at the Erma Byrd Higher Education Center in Raleigh County and the lease on Harper Road will be discontinued. This change will provide a $20,000 annual lease saving. This also provides BSC an opportunity to grow and expand in the Beckley area. - Bonds for Mahood Hall ($5 million) and lab updates for Brown Gilbert Basic Science and Dickason Hall ($1 million) are being processed by the state. A notice should be received by early fall. - Budget through April 30, 2010 – total revenues of $21.3 million and expenditures of just under $19 million. Mr. Ratliff informed the group that May and June are heavy expenditure months with light revenue. Executive SessionA motion was made (RTopping/LRatliff) to go into Executive Session at 6:30 p.m. Motion carried. A motion was made (LRatliff/RTopping) to return to regular session at 6:55 p.m.A motion was made (LRatliff/RTopping) to offer President Walker a contract for a three year term. Motion carried. Addition Board Action(s) and Comment(s)Mr. Palmer commented on the BSC Commencement program and how rewarding it was to participate in the program. He commended the faculty, staff, and administration for an excellent job of producing the highest quality of students who are prepared for life in their individual disciplines. They become good ambassadors for the college. Next meeting will be August 19, 2010 in the BSC Private Dining Room. With no further business to discuss, the meeting was adjourned at 7:15 p.m.